---
title: "Goldman Sachs: POP MART's third-quarter performance exceeded expectations, raising this year's profit forecast by 7%"
description: "Goldman Sachs report shows that POP MART's revenue in the third quarter increased by 245% year-on-year, exceeding expectations, mainly benefiting from strong IP momentum and expanded supply capacity. "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/262164194.md"
published_at: "2025-10-22T05:33:31.000Z"
---

# Goldman Sachs: POP MART's third-quarter performance exceeded expectations, raising this year's profit forecast by 7%

> Goldman Sachs report shows that POP MART's revenue in the third quarter increased by 245% year-on-year, exceeding expectations, mainly benefiting from strong IP momentum and expanded supply capacity. Sales in the Chinese market grew by 185%, while overseas markets grew by 365%. Goldman Sachs raised its earnings forecast for 2025 by 7%, maintaining a "Neutral" rating with a target price of HKD 350

Goldman Sachs published a research report indicating that POP MART's revenue in the third quarter grew by 245% year-on-year to 250%, further accelerating growth compared to the first half of the year, and surpassing the bank's earlier expectation of a 167% growth in the second half. Sales in the Chinese market increased by 185% to 190% year-on-year, while overseas markets saw a year-on-year growth of 365% to 370%, with the Americas growing by 1265% to 1270% and Europe by 735% to 740%. The bank believes that the third quarter performance exceeded market expectations, mainly due to strong IP momentum and enhanced monetization capabilities driven by expanded supply capacity. Looking ahead, the bank believes that the visibility for growth in the fourth quarter remains high, as it coincides with the peak season and there will be themed product launches, along with improved supply capacity and continued expansion of the store network providing support. The bank raised its earnings forecast for 2025 by 7%, maintaining a "Neutral" rating and a target price of HKD 350

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.